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Nelson P/N 3022039 Control Valves

I am attempting to resurrect an older in-ground sprinkler system. I have uncovered three Nelson P/N 3022039 control valves. The existing timer is an old Nelson C-5. My plan would be to replace the timer with a modern unit and use the existing valves assuming they still operate. Are these valves any good? How old are these parts? Any input from the experts? It would appear I have a three zone system. What timer would you recommend? What is the wire lead labeled common on the timer? Is this the 24v positive output to all the valves? The timer is 5 zone capable but looks like only three were used.